What is a Managing Agent
Being a landlord or a property manager can be a very challenging job with an overwhelming workload. That is why some people turn to managing agents for help.
A managing agent is not the same thing as a property manager or a management company, instead of setting house rules, interviewing tenants, and handling evictions the managing agent is responsible for the more day to day activities.
You can expect your managing agent to inspect and maintain common areas, perform small maintenance tasks, organize and deal with garbage and recycling collections, administrative responsibilities, acting as a go between for tenants and managers or owners, and other small regular duties in and around your property.
In some situations, like new construction, a property manager is only needed for a short period. Other property owners like to have a property manager on hand at all times for those little things that take time but aren?t very complicated.
There are many managing agents in every region and you can find them online or in the yellow pages, but some landlords have found that hiring one of their best and most trusted tenants as a property manager is a win/win situation. Using a tenant as the property manager you know they have a vested interest as they live on the property too and they?re happy to get a discounted rent charge. But they may not be as biased as an outsider would which can complicate things in the future.
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